Named after Alderman Joseph Bales, Mayor of Willoughby in 1931-32, 1936, 1938-42 and 1945-47. On land formerly used as Chinese market gardens, the park was created by resumption and private purchase during 1930, and was known as Central Park. In 1952, more land was resumed to increase the park area.

Access to the park is from Stanley Street, Ranelagh Crescent or Sydney Street. There is a level pathway between the Stanley Street park entrance and a bus stop with seat in Fry Street, 250m away.